JNTUH MBA 2nd Sem Last 10 Year Question Papers (2010-2020) All Regulation - (JNTU Hyderabad)
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Question Paper Code: CMB002
MBA I Semester End Examinations (Supplementary) - July, 2017
Regulation: R16
FINANCIAL ACCOUNTING AND ANALYSIS
(Master of Business Administration)
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Time: 3 Hours
Max Marks: 70
Answer ONE Question from each Unit
All Questions Carry Equal Marks
All parts of the question must be answered in one place only
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UNIT I
- (a) Discuss the meaning of Accounting and its importance to various users of Accounting Information. [7M]
(b) Demonstrate the meaning and significance of the following GAAPs: [7M]- i. Separate Entity Concept.
- ii. Dual Aspect Concept.
- iii. Accural Concept.
- iv. Conservatism Principle.
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- (a) Describe the Meaning and various stages of Accounting Cycle. [7M]
(b) Classify the following items into asset, liability, income and Expense: [7M]- i. Copyrights
- ii. Preliminary Expenses
- iii. Pre-paid expenses
- iv. Outstanding expenses
- v. Bank Overdraft
- vi. Sales
- vii. Goodwill
- viii. Stock
- ix. Tax payable
- x. Royalty Paid
- xi. Accrued Commission
- xii. Salaries
- xiii. Unearned interest
- xiv. Wages
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UNIT II
- (a) Ms. Arora set up Ace Marketing Ltd., to provide consultancy. During a short period the company completed the following transactions. Prepare Journal entries to record the transactions. [7M]
- i. Ms. Arora invested cash in Ace's share capital Rs. 20,000
- ii. Billed customers for services provided Rs. 5,600
- iii. Paid assistant's salary Rs. 600
- iv. Bought computer on credit Rs. 4,400
- v. Received cash from customers billed earlier Rs. 1,350
- vi. Took a bank loan Rs. 5000
- vii. Paid creditors Rs. 2,000
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Account Rs. Accounts Receivable 1,200 Prepaid Insurance 1,400 Building 15,000 Retained Earnings ? Cash 1,500 Revenue from services 12,500 Creditors 2,300 Rent Expense 1,000 Dividends 750 Salaries Expense 1,600 Electricity Expense 500 Share capital 7,500 Office Equipment 3,000 Telephone Expense 1,050 - (a) On January 1, 2012, X Ltd., purchased a second-hand machine for Rs. 80,000 and spent Rs. 20,000 on its cartage, repairs and installation. The residual value at the end of its expected useful life of 4 years is estimated at Rs. 40,000. On September 30, 2013, this machine is sold for Rs. 50,000. Depreciation to be provided according to Straight Line Method. Prepare Machinery account for the first three years assuming that the accounts are closed on March 31, each year. [8M]
(b) Prepare purchases book and purchase returns book in the books of Ms Soundarya Enterprise from the following transactions: [6M]--- Content provided by FirstRanker.com ---
Date Transaction 12/5/16 Goods of MRP Rs.25,000 purchased from Naveen Enterprises @20% trade discount. 14/5/16 Goods valuing Rs.1,100 returned to Naveen Enterprises. 16/5/16 Goods of MRP Rs.44,000 purchased from Satish Enterprises @10% trade discount. 19/5/16 Goods of cost Rs.3,200 returned to Satish Enterprises. 20/5/16 Goods costing Rs.19,000 purchased in cash from Naveen Enterprises. 21/5/16 Goods costing Rs.11,000 purchased from Telelink Ltd.
UNIT - III
- (a) The following transactions occur in the purchase and issue of a material: [8M]
Prepare stores ledger under FIFO method from the above transactions2016 January 1 Opening stock Nil January 1 Purchases 100 units @ Rs.30 per unit January 15 Issued 50 units February 1 Purchases 200 units @ Rs.40 per unit February 15 Issued 100 units February 20 Issued 100 units March 1 Purchases 150 units @ Rs.50 per unit March 15 Issued 100 units
(b) Discuss the meaning and types of Share Capital found in a balance sheet. [6M] - (a) D Ltd invited application to issue 10,000 equity shares of face value Rs.10 each at par. The amount to be paid as to Rs.4 at the time of application, Rs.2.50 on allotment, and the remaining amount on first and final call. The company received the application for 10,000 shares all the shares were allotted, the amount due on allotment as well as on first and final call was received in time in full. Pass necessary journal entries in the books of D Ltd. [8M]
(b) Discuss the meaning and types of Debentures. [6M]
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UNIT IV
- (a) Following are the comparative balance sheets of Novo Company as at December 31. [8M]
Liabilities 2014 (Rs.) 2015 (Rs.) Assets 2014 (Rs.) 2015 (Rs.) Share capital 70,000 74,000 Goodwill 10,000 5,000 Profit/loss 10,040 10,560 Land 20,000 30,000 Debentures 12,000 6,000 Trade Debtors (goods) 14,900 17,700 Trade -Creditors 10,360 11,840 Stock-in-trade 49,200 42,700 Provision for doubtful debts 700 800 Cash 9,000 7,800 1,03,100 1,03,200 1,03,100 1,03,200 Additional Information:
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- i. Dividends were paid totaling Rs.3,500.
- ii. Land was purchased for Rs.10,000 and amount provided for the amortization of goodwill totaled Rs. 5,000.
- iii. Debenture loan was repaid Rs. 6,000.
(b) Describe the meaning of Funds Flow Statement. Compare Funds Flow with Income statement. Explain the uses of Funds flow statement. [6M] - (a) The Balance Sheets of VXL Limited as at December 31 of two years are given below: [8M]
Assets 2016 (Rs.) 2015 (Rs.) Cash Balances 60,000 50,000 Trade debtors 100,000 75,000 Inventory 120,000 140,000 Land 80,000 100,000 Plant and Machinery 250,000 200,000 Total 610,000 565,000
Cash dividends of Rs.25,000 have been paid during the year. Prepare a Cash flow statement for VXL Limited.Liabilities and Capital 2016 (Rs.) 2015 (Rs.) Trade Creditors 40,000 30,000 Debentures 90,000 150,000 Provision for depreciation on Plant 80,000 60,000 Equity Share Capital 240,000 200,000 Retained Earnings 160,000 125,000 Total 610,000 565,000
(b) Describe the meaning of cash flow statement. Compare funds flow with cash flow statement. [6M]
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UNIT - V
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- (a) Calculate the following ratios from the given balance sheet: [7M]
- i. Current ratio
- ii. Fixed Assets to Net worth ratio
- iii. Debt equity ratio
- iv. Return on capital employed
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Liabilities Rs. Assets Rs. 600 shares of Rs.100 each 60,000 Land 40,000 General Reserve 35,000 Plant 20,000 Dividend Equalisation Reserve 5,000 Machinery 27,500 Long-term loans 20,000 Investments 25,000 Bills payable 30,000 Inventories 30000 Provision for tax 5,000 Bills receivable 13,500 Profit & loss A/c Balance(cr) Last Year : 1,000 Current year: 20,000 21,000 Cash and bank 12,000 Preliminary expenses 8,000 176,000 176,000
(b) Describe the meaning and types of Financial Statements. [7M] - (a) The following Trading and Profit and Loss Account is given: [8M]
Calculate:Rs. Rs. To Opening stock 76,250 By Sales 500,000 To Purchases 315,250 By Closing stock 98,500 To Carriage 2,000 To Wages 5,000 To Gross profit 200,000 598,500 598,500 To Administrative expenses 100,000 By Gross profit 200,000 To Selling & distribution expenses 13,000 By Non operating incomes 6,000 To Financial expenses 7,000 To Other non-operating expenses 2,000 To Net profit 84,000 206,000 206,000 - i. Gross Profit ratio
- ii. Net Profit ratio
- iii. Operating ratio
- iv. Operating profit ratio
- v. Current ratio
- vi. Stock turnover ratio
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